Asset Management One Co. Ltd. Raises Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Asset Management One Co. Ltd. lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,996 shares of the industrial products company's stock after buying an additional 11,875 shares during the period. Asset Management One Co. Ltd. owned about 0.11% of Tetra Tech worth $12,266,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company's stock valued at $222,466,000 after buying an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Tetra Tech by 387.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company's stock valued at $155,601,000 after buying an additional 2,622,288 shares during the last quarter. abrdn plc boosted its position in shares of Tetra Tech by 7.6% during the fourth quarter. abrdn plc now owns 2,269,777 shares of the industrial products company's stock valued at $90,031,000 after buying an additional 159,701 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock valued at $97,644,000 after buying an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its position in shares of Tetra Tech by 289.0% during the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company's stock valued at $86,032,000 after buying an additional 1,355,351 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on TTEK shares. KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada reiterated an "outperform" rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Maxim Group lowered Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird lifted their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Finally, StockNews.com lowered Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.52.

Tetra Tech Price Performance

Shares of TTEK traded down $0.56 during midday trading on Thursday, reaching $29.96. The stock had a trading volume of 2,024,226 shares, compared to its average volume of 3,412,498. The company's 50-day moving average is $38.21 and its 200 day moving average is $43.38. Tetra Tech, Inc. has a 12-month low of $29.95 and a 12-month high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 31.47 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, equities analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, February 12th. Tetra Tech's dividend payout ratio (DPR) is presently 24.16%.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares of the company's stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by corporate insiders.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.